, linking nominal interest rates to inflation; however, there is no evidence of the full adjustment of the former to the latter …

, linking nominal interest rates to inflation; however, there is no evidence of the full adjustment of the former to the latter …

We present a framework for interpretation of the empirical results of New Keynesian models of inflation dynamics. Both … literature. For example, we show that the unit-root form of non-stationary may be implied for inflation even though the …

whether it helps to use the information that was available at the time in the choice of instruments in the estimation of the … information in the estimation of the Phillips curve is in using forecasts made at the time to represent expectations (2) real time …

long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below … its targeted level over the sample period. The deviation of inflation rate from its targeted level in Sweden resulted in …

How does competition affect information acquisition of firms and thus the response of inflation and output to monetary … uncertainty about inflation as a non-targeted moment. …

In the past five years, the inflation in the euro area has been well below the European Central Bank’s (ECB) aimed … inflation rate of close to but below two percent for achieving its objective of price stabilization in the medium term. The … present analysis shows that expectations of low inflation, rising cyclical unemployment, and external factors such as low …